08 June 2014

China developer to boost projects here

08 June 2014

By BUSINESS TIMES
UPBEAT MODE: Country Garden plans to expand into new areas in Johor, Selangor, Sabah and Sarawak
CHINA-based property developer Country Garden Holdings Co Ltd is upbeat to further boost projects in Malaysia, especially in the mixed-development sector.
The Hong-Kong Stock Exchange-listed company, through its Malaysian regional concern, Country Garden Properties (Malaysia) Sdn Bhd, is well-known here for its maiden project in Malaysia, the Country Garden@Danga Bay, when it launched 9,000 condominium units at one go last year.
The company’s Malaysian operations contributed seven to 10 per cent to the group’s overall revenue of about 100 billion renminbi (RM52.4 billion) last year.
As one of the top 10 property developers in China, Country Garden is also set to launch another mega project in Semenyih, Selangor, this week.
Called the Country Garden Diamond City, the low-density project offers comfortable and spacious homes. The project encompasses a 50,000 sq ft of clubhouse and commercial area with state-of-the-art amenities.
Country Garden regional president for the Malaysia project, Kayson Yuen, said the company sees Malaysia as a good place for investment as the country is now moving towards a high-income nation status.
“In addition to that, the recent 40 years anniversary of friendship that Malaysia and China share is a comforting sign for China-based developers to jointly develop businesses here,” he said when met at the Country Garden’s regional office here last week.
Yuen said Country Garden is set to expand into new areas in Johor, Selangor, Sabah and Sarawak.
However, he said the company is still looking into suitable locations in Kota Kinabalu, Sabah.
In Johor, Yuen revealed that the company has identified an area close to the Second Link in Gelang Patah for a long-term mix development township, which will commence by next year.
It is learnt that the project in question is part of a highly talked about Forest City, comprising luxury homes near Pendas, in south Johor, which will be built on a land reclamation site.
The project, believed to be covering a large land area, will be Johor’s single largest project to date.
However, Yuen declined to reveal details about the project, only that it will be a 30-year project, that will see landed properties, highrise buildings, commercial areas and industrial zones in a township.
On the company’s other ventures, he said the company will focus on the Country Garden Diamond City project as it will be the company’s first landed property project in Malaysia.
“We would like to do our best for the project that has both classical and Spanish architecture elements. It is to move away from the modernist designs that most developers offer now,” Yuen said.
Country Garden is introducing Spanish architecture to its link houses, bungalows and mansions, fitting them with high quality hand-crafted decorations and murals.
The company is collaborating with local developer Mayland Group, which has the same vision of creating a villa city in Greater Kuala Lumpur.
Established in 1992 in Shunde, Guangzhou, Country Garden has created more than 100 projects for over 600,000 homeowners in the Asia Pacific region.

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